Increase in price of a good will increase consumers' demand. This is a(n)
A) positive statement.
B) true statement.
C) inverse statement.
D) normative statement.
A
Economics
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Property taxes in the U.S. are ________
A) progressive B) regressive C) proportional D) negative
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A necessary condition for "perfect competition" is
A) price searchers. B) price takers. C) legal restrictions on entry into the market. D) a small number of huge firms. E) widespread and long-run economic profits.
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An increase in investment spending would cause the FE line to
A) shift to the right. B) shift to the left. C) remain unchanged. D) remain unchanged if Ricardian equivalence holds; otherwise, shift to the right.
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In the above table, if the marginal revenue product is $14, how many workers will the profit maximizing monopsonist hire?
A) 2 B) 3 C) 4 D) 5
Economics